Home Depot markets seven-year, 10-year and 30-year notes

By Cristal Cody

Chicago, Sept. 7 – Home Depot Inc. is marketing a three-part offering of fixed-rate notes, according to a 424B5 filing with the Securities and Exchange Commission.

A source noted that seven-year notes were being talked with a spread in the Treasuries plus 65 basis points area, a 10-year tranche was expected to come in the Treasuries plus 80 bps area and a 30-year tranche had talk in the Treasuries plus 105 bps area.

The notes are redeemable with a make-whole premium at the option of the issuer until a certain number of months before the maturity of each series.

Should there be a change-of-control event, Home Depot will have to offer to repurchase the notes at 101.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments, Inc. are leading the sale.

Bank of New York Mellon Trust Co., NA is the trustee.

Alston & Bird LLP is advising the issuer.

Proceeds will be used for general corporate purposes, including repurchases of shares of common stock, subject to market conditions and other business considerations.

Home Depot is an Atlanta-based home improvement retailer.

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